UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: (811-07513)

Exact name of registrant as specified in charter: Putnam Funds Trust

Address of principal executive offices: One Post Office Square, Boston, Massachusetts 02109

Name and address of agent for service: Robert T. Burns, Vice President
One Post Office Square
Boston, Massachusetts 02109

Copy to:         Bryan Chegwidden, Esq.
Ropes & Gray LLP
1211 Avenue of the Americas
New York, New York 10036

Registrant’s telephone number, including area code: (617) 292-1000

Date of fiscal year end: June 30, 2015

Date of reporting period: September 30, 2014

Item 1. Schedule of Investments:

Putnam Small Cap Growth Fund
The fund's portfolio
9/30/14 (Unaudited)
COMMON STOCKS (99.5%)(a)
	Shares	Value
Aerospace and defense (1.6%)
Astronics Corp.(NON)(S)	12,058	$689,911
Engility Holdings, Inc.(NON)	10,800	336,636
Orbital Sciences Corp.(NON)(S)	22,400	622,720
Sparton Corp.(NON)	25,387	625,790
		2,275,057
Air freight and logistics (0.8%)
XPO Logistics, Inc.(NON)(S)	30,100	1,133,867
		1,133,867
Airlines (1.0%)
Hawaiian Holdings, Inc.(NON)(S)	39,411	530,078
Republic Airways Holdings, Inc.(NON)	25,694	285,460
Spirit Airlines, Inc.(NON)	9,977	689,810
		1,505,348
Auto components (1.4%)
Cooper Tire & Rubber Co.	26,900	772,030
Tenneco, Inc.(NON)	11,260	589,011
Tower International, Inc.(NON)	24,900	627,231
		1,988,272
Banks (0.4%)
PacWest Bancorp	12,796	527,579
		527,579
Biotechnology (8.2%)
ACADIA Pharmaceuticals, Inc.(NON)(S)	21,600	534,816
Aegerion Pharmaceuticals, Inc.(NON)(S)	24,984	833,966
Alkermes PLC(NON)	18,324	785,550
AMAG Pharmaceuticals, Inc.(NON)(S)	35,700	1,139,187
Ariad Pharmaceuticals, Inc.(NON)(S)	66,300	358,020
Array BioPharma, Inc.(NON)(S)	60,910	217,449
Biospecifics Technologies Corp.(NON)	11,376	401,573
Conatus Pharmaceuticals, Inc.(NON)(S)	8,804	53,880
Cubist Pharmaceuticals, Inc.(NON)(S)	27,070	1,795,824
Enanta Pharmaceuticals, Inc.(NON)(S)	8,300	328,431
Inovio Pharmaceuticals, Inc.(NON)(S)	14,900	146,765
Insys Therapeutics, Inc.(NON)	18,345	711,419
Isis Pharmaceuticals, Inc.(NON)(S)	16,981	659,372
Merrimack Pharmaceuticals, Inc.(NON)(S)	60,700	532,946
NPS Pharmaceuticals, Inc.(NON)	21,054	547,404
Puma Biotechnology, Inc.(NON)	2,500	596,425
Receptos, Inc.(NON)	7,704	478,495
Repligen Corp.(NON)(S)	29,174	580,854
Retrophin, Inc.(NON)(S)	25,219	227,475
Sunesis Pharmaceuticals, Inc.(NON)(S)	19,600	139,944
TESARO, Inc.(NON)(S)	11,700	314,964
Threshold Pharmaceuticals, Inc.(NON)(S)	68,800	248,368
Trevena, Inc.(NON)(S)	33,600	215,712
		11,848,839
Building products (1.1%)
PGT, Inc.(NON)	45,400	423,128
Trex Co., Inc.(NON)(S)	32,670	1,129,402
		1,552,530
Capital markets (1.7%)
HFF, Inc. Class A	35,534	1,028,709
Safeguard Scientifics, Inc.(NON)(S)	23,626	434,718
WisdomTree Investments, Inc.(NON)(S)	86,000	978,680
		2,442,107
Chemicals (3.7%)
Chemtura Corp.(NON)	24,922	581,430
FutureFuel Corp.	40,640	483,210
Innophos Holdings, Inc.	9,161	504,679
Innospec, Inc.	20,933	751,495
Landec Corp.(NON)	68,856	843,486
LSB Industries, Inc.(NON)(S)	24,030	858,111
OM Group, Inc.	25,200	653,940
Tronox, Ltd. Class A	10,646	277,328
Zep, Inc.	23,340	327,227
		5,280,906
Commercial services and supplies (1.7%)
G&K Services, Inc. Class A	8,100	448,578
InnerWorkings, Inc.(NON)	53,500	432,815
KAR Auction Services, Inc.	20,225	579,042
MSA Safety, Inc.	10,442	515,835
Performant Financial Corp.(NON)(S)	61,800	499,344
		2,475,614
Communications equipment (2.8%)
Arris Group, Inc.(NON)	13,922	394,758
Aruba Networks, Inc.(NON)	14,959	322,815
CalAmp Corp.(NON)(S)	45,570	802,943
EchoStar Corp. Class A(NON)	18,004	877,875
Extreme Networks, Inc.(NON)	54,400	260,576
Plantronics, Inc.	6,141	293,417
Ruckus Wireless, Inc.(NON)(S)	38,695	516,965
ShoreTel, Inc.(NON)	42,000	279,300
Ubiquiti Networks, Inc.(NON)(S)	7,586	284,703
		4,033,352
Construction materials (0.2%)
CaesarStone Sdot-Yam, Ltd. (Israel)	4,944	255,506
		255,506
Consumer finance (1.3%)
Credit Acceptance Corp.(NON)	4,151	523,317
Encore Capital Group, Inc.(NON)(S)	16,173	716,626
Portfolio Recovery Associates, Inc.(NON)(S)	12,182	636,266
		1,876,209
Distributors (0.9%)
Core-Mark Holding Co., Inc.	25,592	1,357,400
		1,357,400
Diversified consumer services (1.3%)
Ascent Capital Group, Inc. Class A(NON)(S)	3,684	221,777
Bright Horizons Family Solutions, Inc.(NON)	22,565	949,084
Chegg, Inc.(NON)	69,700	434,928
Grand Canyon Education, Inc.(NON)	7,985	325,548
		1,931,337
Diversified telecommunication services (1.0%)
IDT Corp. Class B	25,900	415,954
inContact, Inc.(NON)(S)	39,104	340,009
Inteliquent, Inc.	37,057	461,360
Iridium Communications, Inc.(NON)(S)	33,370	295,325
		1,512,648
Electrical equipment (2.2%)
AZZ, Inc.	16,886	705,328
EnerSys	15,866	930,382
Franklin Electric Co., Inc.	19,158	665,549
Generac Holdings, Inc.(NON)(S)	16,384	664,207
Polypore International, Inc.(NON)(S)	6,448	250,892
		3,216,358
Electronic equipment, instruments, and components (1.4%)
Anixter International, Inc.	6,697	568,173
II-VI, Inc.(NON)	30,914	363,858
InvenSense, Inc.(NON)(S)	19,000	374,870
MTS Systems Corp.(S)	6,791	463,554
Tech Data Corp.(NON)	4,785	281,645
		2,052,100
Energy equipment and services (0.2%)
Key Energy Services, Inc.(NON)	57,786	279,684
		279,684
Food and staples retail (0.8%)
Andersons, Inc. (The)	9,000	565,920
Roundy's, Inc.(S)	60,500	180,895
United Natural Foods, Inc.(NON)(S)	7,678	471,890
		1,218,705
Food products (0.8%)
Boulder Brands, Inc.(NON)(S)	13,922	189,757
Limoneira Co.(S)	14,200	336,398
Pinnacle Foods, Inc.	13,800	450,570
S&W Seed Co.(NON)(S)	51,696	219,191
		1,195,916
Health-care equipment and supplies (7.2%)
Accuray, Inc.(NON)	58,860	427,324
Alere, Inc.(NON)	25,885	1,003,820
Align Technology, Inc.(NON)	10,135	523,777
AtriCure, Inc.(NON)	16,914	248,974
Conmed Corp.	23,643	871,008
DexCom, Inc.(NON)	12,079	483,039
GenMark Diagnostics, Inc.(NON)(S)	57,103	512,214
Globus Medical, Inc. Class A(NON)	26,104	513,466
Greatbatch, Inc.(NON)	16,227	691,432
Hill-Rom Holdings, Inc.	14,740	610,678
Insulet Corp.(NON)(S)	18,937	697,828
OraSure Technologies, Inc.(NON)	92,500	667,850
Spectranetics Corp. (The)(NON)(S)	20,300	539,371
STAAR Surgical Co.(NON)(S)	74,750	794,593
Steris Corp.	13,307	718,046
Trinity Biotech PLC ADR (Ireland)	23,135	422,676
West Pharmaceutical Services, Inc.	14,200	635,592
		10,361,688
Health-care providers and services (3.5%)
AmSurg Corp.(NON)	11,302	565,665
Centene Corp.(NON)	6,005	496,674
Chemed Corp.(S)	11,056	1,137,662
Community Health Systems, Inc.(NON)	15,700	860,203
HealthSouth Corp.	6,810	251,289
MWI Veterinary Supply, Inc.(NON)	6,243	926,461
Providence Service Corp. (The)(NON)	17,068	825,750
		5,063,704
Health-care technology (0.2%)
Computer Programs & Systems, Inc.	5,083	292,222
		292,222
Hotels, restaurants, and leisure (3.3%)
Bloomin' Brands, Inc.(NON)	15,500	284,270
Century Casinos, Inc.(NON)	63,800	327,294
Krispy Kreme Doughnuts, Inc.(NON)	36,600	628,056
Marcus Corp.	27,229	430,218
Papa John's International, Inc.	25,592	1,023,424
Penn National Gaming, Inc.(NON)	44,800	502,208
Popeyes Louisiana Kitchen, Inc.(NON)	10,172	411,966
SeaWorld Entertainment, Inc.	30,000	576,900
Six Flags Entertainment Corp.	16,200	557,118
		4,741,454
Household durables (0.2%)
Dixie Group, Inc. (The)(NON)	34,800	301,716
		301,716
Household products (0.5%)
Harbinger Group, Inc.(NON)	53,231	698,391
		698,391
Insurance (0.8%)
Amtrust Financial Services, Inc.(S)	13,800	549,516
Stewart Information Services Corp.	10,388	304,888
United Insurance Holdings Corp.	20,000	300,000
		1,154,404
Internet and catalog retail (1.0%)
Blue Nile, Inc.(NON)	15,500	442,525
Groupon, Inc.(NON)(S)	45,000	300,600
HSN, Inc.	7,131	437,629
Shutterfly, Inc.(NON)	5,629	274,357
		1,455,111
Internet software and services (2.7%)
Amber Road, Inc.(NON)(S)	10,600	183,804
AOL, Inc.(NON)	7,200	323,640
Cornerstone OnDemand, Inc.(NON)(S)	17,577	604,825
IntraLinks Holdings, Inc.(NON)	74,525	603,653
LivePerson, Inc.(NON)	23,900	300,901
MeetMe, Inc.(NON)(S)	166,700	328,399
NIC, Inc.	44,041	758,386
XO Group, Inc.(NON)	25,304	283,658
Yelp, Inc.(NON)(S)	7,000	477,750
		3,865,016
IT Services (2.1%)
Acxiom Corp.(NON)	16,950	280,523
CACI International, Inc. Class A(NON)	11,100	791,097
CSG Systems International, Inc.	11,056	290,552
Global Cash Access Holdings, Inc.(NON)	82,200	554,850
MAXIMUS, Inc.	10,135	406,718
NeuStar, Inc. Class A(NON)	14,800	367,484
VeriFone Systems, Inc.(NON)	10,789	370,926
		3,062,150
Leisure products (0.4%)
Brunswick Corp.	14,400	606,816
		606,816
Machinery (3.9%)
Altra Industrial Motion Corp.	22,521	656,712
Greenbrier Cos., Inc. (The)(S)	23,329	1,711,882
Kadant, Inc.	12,079	471,685
L.B. Foster Co. Class A	13,762	632,226
Middleby Corp. (The)(NON)	7,100	625,723
Standex International Corp.	12,796	948,695
Wabash National Corp.(NON)	44,400	591,408
		5,638,331
Marine (0.4%)
Diana Shipping, Inc. (Greece)(NON)(S)	25,800	230,652
Matson, Inc.	10,953	274,154
		504,806
Media (1.9%)
Carmike Cinemas, Inc.(NON)	8,731	270,486
Lions Gate Entertainment Corp.(S)	26,400	870,408
Live Nation Entertainment, Inc.(NON)	33,600	807,072
National CineMedia, Inc.	53,700	779,187
		2,727,153
Metals and mining (0.8%)
Hi-Crush Partners LP (Units)	12,500	644,500
U.S. Silica Holdings, Inc.(S)	8,700	543,837
		1,188,337
Multiline retail (0.4%)
Big Lots, Inc.	15,047	647,773
		647,773
Oil, gas, and consumable fuels (3.7%)
Callon Petroleum Co.(NON)	92,660	816,335
Delek US Holdings, Inc.	30,300	1,003,536
EP Energy Corp. Class A(NON)(S)	32,100	561,108
Gulfport Energy Corp.(NON)	4,810	256,854
Kodiak Oil & Gas Corp.(NON)	60,398	819,601
Rosetta Resources, Inc.(NON)	9,534	424,835
StealthGas, Inc. (Greece)(NON)	96,370	877,931
Vaalco Energy, Inc.(NON)	40,742	346,307
W&T Offshore, Inc.	25,586	281,446
		5,387,953
Paper and forest products (0.6%)
Domtar Corp. (Canada)	6,200	217,806
KapStone Paper and Packaging Corp.(NON)	24,900	696,453
		914,259
Personal products (1.0%)
Coty, Inc. Class A	35,500	587,525
Nu Skin Enterprises, Inc. Class A	10,400	468,312
Nutraceutical International Corp.(NON)	17,700	370,107
		1,425,944
Pharmaceuticals (5.4%)
Auxilium Pharmaceuticals, Inc.(NON)(S)	20,916	624,343
Cardiome Pharma Corp. (Canada)(NON)	95,784	855,351
Impax Laboratories, Inc.(NON)	19,900	471,829
Jazz Pharmaceuticals PLC(NON)	22,966	3,687,418
Medicines Co. (The)(NON)(S)	15,319	341,920
Nektar Therapeutics(NON)(S)	43,200	521,424
Prestige Brands Holdings, Inc.(NON)	32,040	1,037,135
Sucampo Pharmaceuticals, Inc. Class A(NON)(S)	42,000	273,000
		7,812,420
Professional services (3.2%)
Barrett Business Services, Inc.	12,079	477,000
Corporate Executive Board Co. (The)	7,473	448,903
Kforce, Inc.	25,080	490,816
Korn/Ferry International(NON)	14,000	348,600
On Assignment, Inc.(NON)	41,245	1,107,428
TrueBlue, Inc.(NON)	33,677	850,681
WageWorks, Inc.(NON)(S)	19,526	889,019
		4,612,447
Real estate investment trusts (REITs) (1.3%)
Education Realty Trust, Inc.	67,457	693,458
PS Business Parks, Inc.	9,213	701,478
Sovran Self Storage, Inc.	6,038	448,986
		1,843,922
Real estate management and development (0.3%)
Altisource Portfolio Solutions SA(NON)(S)	4,500	453,600
		453,600
Road and rail (1.3%)
Quality Distribution, Inc.(NON)	63,264	808,514
Swift Transportation Co.(NON)	53,553	1,123,542
		1,932,056
Semiconductors and semiconductor equipment (5.4%)
Advanced Energy Industries, Inc.(NON)	11,100	208,569
Cavium, Inc.(NON)	7,576	376,754
Ceva, Inc.(NON)	35,977	483,531
Fairchild Semiconductor International, Inc.(NON)(S)	27,536	427,634
Freescale Semiconductor, Ltd.(NON)(S)	17,771	347,068
GT Advanced Technologies, Inc.(NON)(S)	26,241	284,190
Integrated Silicon Solution, Inc. (ISSI)	34,908	479,636
Mellanox Technologies, Ltd. (Israel)(NON)	10,749	482,308
Microsemi Corp.(NON)	17,401	442,159
Photronics, Inc.(NON)	76,461	615,511
Power Integrations, Inc.(S)	11,400	614,574
RF Micro Devices, Inc.(NON)(S)	77,571	895,169
Semtech Corp.(NON)	9,111	247,364
Silicon Image, Inc.(NON)	113,527	572,176
Synaptics, Inc.(NON)	12,737	932,348
Ultra Clean Holdings, Inc.(NON)	43,700	391,115
		7,800,106
Software (8.5%)
Allot Communications, Ltd. (Israel)(NON)(S)	22,700	259,234
Aspen Technology, Inc.(NON)	24,606	928,138
AVG Technologies NV (Netherlands)(NON)	12,591	208,759
Bottomline Technologies, Inc.(NON)	9,316	257,028
Commvault Systems, Inc.(NON)	5,825	293,580
Manhattan Associates, Inc.(NON)	53,352	1,783,024
Mentor Graphics Corp.	44,167	905,203
Netscout Systems, Inc.(NON)	18,016	825,133
Proofpoint, Inc.(NON)(S)	11,600	430,824
PTC, Inc.(NON)	23,442	865,010
SolarWinds, Inc.(NON)	17,200	723,260
SS&C Technologies Holdings, Inc.(NON)	15,317	672,263
TiVo, Inc.(NON)	57,968	741,701
Tyler Technologies, Inc.(NON)	12,796	1,131,166
Ultimate Software Group, Inc.(NON)	8,436	1,193,778
Verint Systems, Inc.(NON)	15,150	842,492
Zynga, Inc. Class A(NON)	84,350	227,745
		12,288,338
Specialty retail (2.5%)
ANN, Inc.(NON)	16,173	665,195
Brown Shoe Co., Inc.	17,708	480,418
Conn's, Inc.(NON)(S)	29,900	905,073
Genesco, Inc.(NON)	3,426	256,094
GNC Holdings, Inc. Class A	21,400	829,036
Select Comfort Corp.(NON)	19,346	404,718
		3,540,534
Technology hardware, storage, and peripherals (0.3%)
Nimble Storage, Inc.(NON)	17,300	449,281
		449,281
Textiles, apparel, and luxury goods (0.6%)
Kate Spade & Co.(NON)	14,900	390,827
Steven Madden, Ltd.(NON)	13,390	431,560
		822,387
Thrifts and mortgage finance (0.8%)
BofI Holding, Inc.(NON)(S)	8,072	586,915
Heritage Financial Group, Inc.	26,308	531,159
		1,118,074
Trading companies and distributors (0.8%)
DXP Enterprises, Inc.(NON)	8,343	614,712
WESCO International, Inc.(NON)	7,400	579,124
		1,193,836
Total common stocks (cost $116,325,844)		$143,863,563
SHORT-TERM INVESTMENTS (20.8%)(a)
	Shares	Value
Putnam Cash Collateral Pool, LLC 0.16%(d)	29,098,007	$29,098,007
Putnam Short Term Investment Fund 0.06%(AFF)	943,494	943,494
Total short-term investments (cost $30,041,501)		$30,041,501
TOTAL INVESTMENTS
Total investments (cost $146,367,345)(b)		$173,905,064

Key to holding's abbreviations
ADR	American Depository Receipts: represents ownership of foreign securities on deposit with a custodian bank

	Notes to the fund's portfolio
	Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from July 1, 2014 through September 30, 2014 (the reporting period). Within the following notes to the portfolio, references to “ASC 820” represent Accounting Standards Codification 820 Fair Value Measurements and Disclosures, references to “Putnam Management” represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC and references to “OTC”, if any, represent over-the-counter.
(a)	Percentages indicated are based on net assets of $144,591,462.
(b)	The aggregate identified cost on a tax basis is $146,364,538, resulting in gross unrealized appreciation and depreciation of $33,904,236 and $6,363,710, respectively, or net unrealized appreciation of $27,540,526.
(NON)	Non-income-producing security.
(AFF)	Affiliated company. The rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with Putnam Short Term Investment Fund, which is under common ownership and control, were as follows:
	Name of affiliate	Fair value at the beginning of the reporting period	Purchase cost	Sale proceeds	Investment income	Fair value at the end of the reporting period
	Putnam Short Term Investment Fund *	$—	$8,259,614	$7,316,120	$155	$943,494
	* Management fees charged to Putnam Short Term Investment Fund have been waived by Putnam Management.
(d)	Affiliated company. The fund may lend securities, through its agent, to qualified borrowers in order to earn additional income. The loans are collateralized by cash in an amount at least equal to the fair value of the securities loaned. The fair value of securities loaned is determined daily and any additional required collateral is allocated to the fund on the next business day. The risk of borrower default will be borne by the fund’s agent; the fund will bear the risk of loss with respect to the investment of the cash collateral.
	The fund received cash collateral of $29,098,007, which is invested in Putnam Cash Collateral Pool, LLC, a limited liability company managed by an affiliate of Putnam Management. Investments in Putnam Cash Collateral Pool, LLC are valued at its closing net asset value each business day. There are no management fees charged to Putnam Cash Collateral Pool, LLC. The rate quoted in the security description is the annualized 7-day yield at the close of the reporting period. At the close of the reporting period, the value of securities loaned amounted to $27,831,959. Certain of these securities were sold prior to the close of the reporting period.
(S)	Security on loan, in part or in entirety, at the close of the reporting period.
	Security valuation: Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security.
	Investments in open-end investment companies (excluding exchange traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares.
	Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value foreign equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. These securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. Short-term securities with remaining maturities of 60 days or less may be valued at amortized cost, which approximates fair value and are classified as Level 2 securities.
	To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures and recovery rates. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs.
	Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount.

ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund’s investments. The three levels are defined as follows:
Level 1: Valuations based on quoted prices for identical securities in active markets.
Level 2: Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.
Level 3: Valuations based on inputs that are unobservable and significant to the fair value measurement.
The following is a summary of the inputs used to value the fund’s net assets as of the close of the reporting period:
		Valuation inputs
Investments in securities:	Level 1	Level 2	Level 3
Common stocks*:
Consumer discretionary	$20,119,953	$—	$—
Consumer staples	4,538,956	—	—
Energy	5,667,637	—	—
Financials	9,415,895	—	—
Health care	35,378,873	—	—
Industrials	26,040,250	—	—
Information technology	33,550,343	—	—
Materials	7,639,008	—	—
Telecommunication services	1,512,648	—	—
Total common stocks	143,863,563	—	—
Short-term investments	943,494	29,098,007	—
Totals by level	$144,807,057	$29,098,007	$—
* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation.
During the reporting period, transfers within the fair value hierarchy, if any, (other than certain transfers involving non-U.S. equity securities as described in the Security valuation note above) did not represent, in the aggregate, more than 1% of the fund's net assets measured as of the end of the period.
For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com

Item 2. Controls and Procedures:

(a) The registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms.

(b) Changes in internal control over financial reporting: Not applicable

Item 3. Exhibits:

Separate certifications for the principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Putnam Funds Trust

By (Signature and Title):

/s/ Janet C. Smith
Janet C. Smith
Principal Accounting Officer
Date: November 26, 2014

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title):

/s/ Jonathan S. Horwitz
Jonathan S. Horwitz
Principal Executive Officer
Date: November 26, 2014

By (Signature and Title):

/s/ Steven D. Krichmar
Steven D. Krichmar
Principal Financial Officer
Date: November 26, 2014